News Category: Recent Transactions

Chartwell is pleased to announce that Oxbow Industries and Arcspring Capital have acquired Vectair Systems. Chartwell acted as the exclusive financial advisor to Oxbow and Arcspring throughout the transaction, providing counsel and facilitating negotiations to ensure the acquisition financing was in place. Supporting the transaction and providing bank and non-bank capital were HSBC Bank and Northstar Capital.

Vectair Systems is a world-renowned innovator, manufacturer, and supplier of aircare, washroom, skincare, surface cleaning, feminine hygiene, and infant care products. Vectair has its own in-house engineering and design team, developing both private label and customer OEM products from initial concept to final tooling approval. Vectair Systems was founded in 1988 and services over 130 countries across the globe.

Oxbow Industries is a private equity firm that specializes in investing in high-quality businesses within the middle market. Oxbow assists portfolio companies in numerous ways, including raising capital for corporate growth and providing liquidity for owners. Based in Minneapolis, Minnesota, Oxbow has successfully invested over $2.5 billion in corporate finance transactions.

Arcspring Capital is a private equity firm based in Atlanta, Georgia that utilizes a micro-vertical approach in areas that are undergoing a fundamental shift driven by technology. Arcspring partners with companies in the industrial, services, transportation and logistics, sport, and health and wellness sectors. Arcspring supports management buyouts and provides growth capital in the range of $5.0 million to $50.0 million.

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“Chartwell is a trusted advisor to Oxbow and has acted as the primary agent in a number of transactions over the years. We were again pleased with Chartwell for providing critical assistance during the capital raise process. Thanks to Chartwell’s hard work, we have achieved an optimal outcome and can now focus on developing our partnership with Vectair.”

— Andy Coulter, Partner, Oxbow Industries

“Chartwell’s guidance was instrumental in securing a new facility for the transaction. Chartwell ran an efficient process to secure financing for a time-sensitive acquisition that generated value for all parties involved. We are grateful for Chartwell’s advice throughout the process and look forward to working with them again in the future.”

— Jordan Lamb, Partner, Arcspring Capital

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Chartwell Contact

For additional information on this transaction, please contact Will Bloom. To learn more about Chartwell’s corporate finance capabilities, please contact Greg Fresh.

Chartwell is pleased to announce the sale of Wenck to Stantec. Chartwell acted as exclusive financial advisor to Wenck (the “Company”) throughout the transaction, providing comprehensive, unbiased counsel on its sale of the Company.

Wenck and Stantec had a working relationship and were actively collaborating on projects and teaming on future opportunities. Wenck’s leadership believes combining with Stantec will provide both the economic and strategic resources necessary to further expand the Company’s service offerings and accelerate its geographic and market growth plans. In addition, the combination will provide growth opportunities for Wenck’s employees and more comprehensive capabilities to serve clients.

Wenck engaged Chartwell as its exclusive financial advisor to lead and execute a complex transaction involving the sale of a 100% ESOP-owned company. With Chartwell’s in-depth expertise in ESOPs and M&A transactions, Chartwell provided objective counsel and facilitated negotiations on behalf of the Company to ensure a successful outcome.

“Chartwell has been our trusted advisor since 1999, assisting Wenck during multiple stages of growth and with issues related to employee ownership. As we have valued Chartwell’s partnership for so many years, it seemed natural to turn to them to lead us through this transaction. Having Chartwell manage the process and communication with all parties was immensely helpful to keep myself and the management team focused on the business. I was very impressed with Chartwell’s expertise and guidance and the superior outcome for our ESOP participants and Wenck. We are all part of the Wenck family and our new partnership with Stantec will present excellent opportunities for all current and future employees. We are extremely excited about the future of Wenck and Stantec.”

— Rod Ambrosie, CEO, Wenck Enterprises

About Wenck

Founded in 1985, Wenck provides holistic environmental, engineering, construction, and response solutions to both private and public clients throughout the U.S. and Canada. Wenck’s full spectrum services and core expertise in air, water, food, natural resources, and infrastructure has helped business and industries meet their regulatory compliance and quality of life needs while protecting the world’s most essential resources.

Wenck’s seasoned leadership team transformed the company structure to support continued geographic and market expansion while creating a supportive corporate culture. Their multi-disciplinary and united team of engineers, scientists, construction, and business professionals deliver technical expertise and transform concepts into meaningful results for their clients.

About Stantec

Stantec provides professional infrastructure and facilities consulting services for public and private sector clients in Canada, the United States, and internationally. The company offers consulting services in engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management and planning, and project economics. Stantec serves the urban regeneration, infrastructure, education, energy, industrial, building, tourism and leisure, and waste and water sectors, as well as office and commercial, residential, and retail and town centers. Founded in 1954, Stantec is a publicly traded company on the TSX and NYSE and is headquartered in Edmonton, Canada.

Chartwell Contact

For additional information on this transaction, please contact Wil Becker. To learn more about Chartwell’s corporate finance capabilities, contact Greg Fresh.

Chartwell is pleased to announce the sale of Exactec, Inc. to Presence From Innovation (PFI), a portfolio company of Capital For Business (CFB). The combination of these two entities presents an excellent opportunity for PFI to further penetrate the competitive point-of-purchase retail display market, especially within the high-end display sector for national retail accounts. Chartwell served as the exclusive financial advisor to Exactec (the “Company”), providing comprehensive, unbiased counsel to its sole shareholder, Ken Carney.

PFI is a manufacturer and distributor of retail store displays and fixtures, providing custom injection-molded single-serve coolers, specialized retail racks, and other fixtures made of plastic, wood, metal, and wire designed to drive consumer brand preference and purchasing decisions. PFI boasts a highly tenured base of clients ranging from Fortune 50 B2C companies to small independent retailers and craft consumer brands. PFI is located in St. Louis, Missouri and was founded in 1956.

Also headquartered in St. Louis, CFB is a middle-market industrial growth investment firm committed to providing capital to manufacturing and value-added industrial services companies. CFB takes a collaborative approach with investments by partnering with strong management teams to provide the resources and board-level guidance necessary to succeed.

PFI’s ambition lies in horizontal expansion via new customer acquisition and product portfolio expansion and quickly saw value in a combination with Exactec early in the sale process. Exactec’s high-end product and quality capabilities will provide PFI with access into new corners of the point-of-purchase retail display market. Additionally, the tenured blue-chip customer relationships that Exactec has cultivated will allow PFI to cross-sell into numerous national retail client accounts from day one. These advantages, in addition to significant operational synergies, will set the foundation for a bright future for both companies.

“This is an excellent outcome for all parties involved and Chartwell was instrumental in achieving this. Chartwell took the lead in each step of the sale process with detailed analysis and thoughtful guidance at all times. I feel very fortunate to have chosen Chartwell to lead me through this extremely important process for my business and my family and I am extremely confident this combination with PFI will result in expanded opportunities for both companies.”

— Ken Carney, President & Owner, Exactec

About Exactec

Headquartered in Chaska, Minnesota, Exactec is a leading provider of custom designed, high quality point-of-purchase displays and fixtures for retailers, consumer packaged goods manufacturers, and third-party point-of-purchase display firms. The Company provides clients with a one-stop-shop experience through a unique suite of capabilities ranging from initial CAD drawings to comprehensive manufacturing and the nationwide distribution of finished goods.

“We were honored to work with Ken and his team in the sale of Exactec. Their position in the marketplace, strong leadership team, and customer-centric culture created a compelling story for potential buyers. We were happy to find the right fit with PFI in terms of culture and transaction structure and are delighted to have achieved a great outcome for Ken and the management team.”

— Wil Becker, Managing Director, Chartwell

Chartwell Contact

For additional information on this transaction, please contact Wil Becker. For more information about our corporate finance capabilities, please contact Greg Fresh. 

Chartwell is pleased to announce a majority sale of Superior Pump to Pedrollo Group S.p.A. The combination of these two entities presents an excellent opportunity for Pedrollo to penetrate the highly desirable North American water pump market with its newly-owned, well-established platform in Superior Pump. Chartwell served as the exclusive financial advisor to the Michel family and Superior Pump, providing comprehensive, unbiased counsel to the shareholders on the transaction.

Pedrollo is a family-owned, Italian-based pump manufacturer serving industrial and consumer markets in more than 160 countries worldwide. The Pedrollo multi-generational family business has prioritized the creation of sustainable water, energy, and technology solutions for its customers. In recent years, Pedrollo has been particularly acquisitive, with the prioritization of capturing both revenue and operational based synergies from numerous value-add acquisition targets.  This transaction is their first acquisition in North America.

Superior Pump is a producer and distributor of premium pumps designed for commercial and residential use. This multi-generational family business leverages strong and long-tenured manufacturing capabilities to deliver top-tier products for its wide array of North American-based customers. Management consistently maximizes its efforts to prioritize strategic resource allocation on new and existing customers, business development, and new product development. Coming from its long-standing history of family and entrepreneurial values, Superior Pump shares a similar vision and culture with its Italian-based counterpart, making it an optimal acquisition target for Pedrollo.

Pedrollo’s strategic ambition is to capture market share in North America and it sought out partnership with Superior Pump. Throughout an extensive search process, Pedrollo was intrigued by Superior Pump’s strong geographic footprint and excellent supplier relations. Through ensuing conversations with Superior Pump, it was clear that there are many complementary business aspects between these two companies.

Initial negotiations between the two entities began when Pedrollo approached the Michel family on an unsolicited basis to make a minority equity investment in Superior Pump. Through creative, solutions-based restructuring, Chartwell was able to negotiate with Pedrollo to progress from a minority to a majority equity purchase; allowing Charlie Michel (who will remain president of Superior Pump) to retain a minority equity interest. The negotiation and diligence processes were challenging on many fronts, including tariff expense and credits, working capital build-ups and draw-downs, and COVID-19 related anomalies. Pedrollo expects immediate synergies to be recognized in numerous business areas, including collaboration of design know-how, seamless integration of customer networks, and a more comprehensive product portfolio. The combined entity will now have an unparalleled reach into markets across the globe as it aims to leverage its robust manufacturing capabilities and distribution network. Pedrollo’s belief in Superior Pump is evidenced by the dedicated long-term capital commitment and is convinced it has found the right partner in Superior Pump.

“The Michel family is extremely pleased with this partnership as it positions Superior Pump for significant growth and expansion into new markets, fully backed by the support of Pedrollo. We highly value the strategic and tactical M&A advice that Chartwell provided in this transaction process. Chartwell carefully listened to our family objectives which were successfully structured and negotiated in our transaction with the Pedrollo family.”

— Charles (Chip) Michel Jr., Founder & Majority Owner, Superior Pump

“This is a significant milestone for Superior Pump as we aim to combine our world-class pumps with a supreme partner like Pedrollo. We are delighted to be a part of Pedrollo’s strategic expansion plan in North America and look forward to spearheading these strategic efforts. The Pedrollo platform presents excellent synergies and cross-selling opportunities for both companies. Chartwell provided invaluable advice and insights throughout the M&A process, navigating through a number of complex financial issues while also successfully coordinating and providing due diligence requirements and reports during these unprecedented times.”

— Charles (Charlie) Michel III, President, Superior Pump

About Superior Pump

Headquartered in Minneapolis, Minnesota, Superior Pump is a leading designer, manufacturer, and provider of high-quality water pumps sold to an extensive customer base including specialty retailers, wholesalers, distributors, and direct to consumer online. Consisting mainly of pumps, the Company’s wide product portfolio is tailored to incorporate numerous applications, spanning utility, sump, sewage, lawn and irrigation, pools, and more. Since 1932, the Michel family has established an extensive track record and unparalleled reputation in the plumbing industry.

“We are absolutely delighted to have the opportunity to represent the Michel family in this transformational transaction. It was clear from the beginning of discussions that this transaction would be extremely beneficial for both parties. With Superior Pump’s excellent manufacturing capabilities and comprehensive product portfolio, we knew this was the right opportunity for Superior and Pedrollo to maximize their operations into new international markets. Superior Pump’s North American sales and marketing capabilities will provide Pedrollo many strategic benefits in the years to come. We would like to also thank all of the transaction professionals, both on the Michel and Pedrollo side, for their professionalism, creativity, and responsiveness during these unprecedented times.”

— Greg Fresh, Managing Director, Chartwell

Chartwell Contact

For additional information on this transaction, please contact Greg Fresh.

Chartwell is pleased to announce the successful completion of a recapitalization transaction that funds the future growth of Salas O’Brien through national expansion via strategic mergers and organic growth initiatives. Chartwell acted as the exclusive financial advisor to Salas O’Brien throughout the transaction, providing comprehensive, unbiased counsel to the board of directors and management. Supporting the transaction and providing bank and non-bank capital to achieve Salas O’Brien’s goals were Umpqua Bank and Caltius Structured Capital.

Salas O’Brien is a leading engineering, facility planning, and commissioning firm addressing highly technical building and facility challenges. Founded in 1975, the firm provides mechanical, electrical, and structural engineering and related consulting to clients in a variety of industries. Salas O’Brien has been named an Inc. 5000 fastest growing company for eight consecutive years due to its consistent focus on high quality, long-term relationships.

“Salas O’Brien selected Chartwell as our financial advisor based on their reputation in capital markets and vast industry knowledge in engineering and consulting services. They were attentive to our needs and provided leadership with important, unbiased, and in-depth analyses at every step of this highly complex, multi-faceted transaction. We are simply delighted by the outcome and we highly appreciate our relationship with Chartwell.”

— Darin Anderson, CEO, Salas O’Brien

Chartwell Contact

For additional information on this transaction, please contact Greg Fresh.

Chartwell is pleased to announce that Spring Oaks Capital, LLC has received a structured capital investment, accelerating its establishment as the premier, technology-enabled consumer debt investment and collections platform in the industry.

Spring Oaks’ (the “Company”) substantial private investment, coupled with a $150 million senior secured revolving credit facility provided solely by Ares Global Management, LLC (“Ares”), will support the Company’s opportunistic portfolio acquisition strategy along with the continued development of industry leading technology tools. Further supporting the Company’s growth, Ares has included an incremental $100 million of capital, via an accordion, available for additional capital deployment. In partnering with the leading provider of credit solutions to the consumer finance sector, Spring Oaks is positioned to execute upon a robust pipeline of investment opportunities. Simultaneous with closing, Spring Oaks financed a meaningful investment in selected consumer finance assets, with continued acquisitions scheduled during the remainder of 2020.

Chartwell served as Spring Oaks’ exclusive financial advisor, providing strategic counsel to the Company as it evaluated its capital structure alternatives in pursuit of sustainable growth. The junior structured capital infusion will allow Spring Oaks to build a platform that empowers consumers on their journey to resolve the burden of financial debt through machine learning, behavioral science, and deep industry expertise. The Company now has the necessary capital to rapidly scale its portfolio acquisition platform, leveraging unmatched compliance procedures, best-in-class technology platform, and a team of long-standing industry executives. The investor’s belief in the Company is evidenced by the substantial capital commitment, through both the initial investment and significant monetary commitment in the future.

Spring Oaks Capital, LLC is an innovative and technology-focused consumer debt purchasing and collections platform spearheaded by some of the most credible and experienced executives in the industry. The Company leverages data-driven analytics, AI, and machine learning integration to enhance underwriting, purchasing, and collections, supported by industry-leading cloud-based tools. The Company maintains an unmatched compliance focus, ethically collecting portfolios with a team-based approach.

“Spring Oaks is extremely pleased with this investment outcome as it positions us for significant growth as we build the premier debt buyer in the industry. Our long-standing partnership with Chartwell has been instrumental in the early development of the Company, and we are grateful for their leadership of our capital raising process. We look forward to many years of continued partnership with their team.”

— Marcelo Aita, Executive Chairman, Spring Oaks Capital

“This is a significant milestone for Spring Oaks as we continue to build our leading portfolio acquisition platform and deepen our relationships with high quality financial institutions seeking a well-capitalized, technology-enabled partner to transition customer relationships. The Ares credit facility, along with our structured capital investor, positions us to be the buyer of choice for sellers seeking a long-term partner, ranging from leading-edge financial technology lenders to global banking institutions.”

— Tim Stapleford, President & CEO, Spring Oaks Capital

About Spring Oaks Capital

Spring Oaks Capital is a national financial technology company, focused on the acquisition of non-performing credit portfolios. The Company subscribes to an employee and consumer-centric operating philosophy that creates high-value jobs, a significant performance lift and highest standards of compliance. Spring Oaks’ business strategy is rooted in innovative data-driven technology to maximize collection results and a contact platform that offers multi-channel options to meet each consumer’s communication preference.

“The Spring Oaks team possesses unmatched experience and we are excited to be a trusted advisor to the Company. With a fulsome understanding of the Company’s objectives and a review of the capital alternatives available to support the Company’s initial growth, the preferred capital structure exceeded the initial investment expectations, with an ability to facilitate significant future investment over time. The selected institutional private investor also provides complimentary benefits to Spring Oaks’ technology strategy. We are excited to support Spring Oaks’ continued growth. Further, Spring Oaks is well-positioned for sustainable growth through its partnership with Ares, one of the world’s premier institutional credit platforms. We are incredibly excited to witness the Spring Oaks growth story over the next several years, and continue to build on our partnership with Marcelo Aita, Tim Stapleford, and the entire Spring Oaks team.”

— Will Bloom, Managing Director, Chartwell

Chartwell Contact

For additional information on this transaction, please contact Will Bloom. To learn more about Chartwell’s corporate finance capabilities, please contact Greg Fresh.

Chartwell is pleased to announce the sale of Copperhead Industries to Copperweld Group, a portfolio company of Kinderhook Industries and parent company of Copperweld Bimetallics and Seminole Wire & Cable. Chartwell acted as exclusive financial advisor to Copperhead (the “Company”) throughout the transaction, providing comprehensive, unbiased counsel to the shareholders on the sale of the Company.

Copperhead is a leading supplier of tracer wire and tracer wire accessories, serving a variety of public and private customers in the water, sewer, gas, and telecommunications markets. Copperhead’s unique Complete Utility Locating System™ makes detecting underground utilities more accurate and efficient. The Company is headquartered in Monticello, Minnesota.

After years of measured and profitable growth, the Copperhead shareholders believed that in order to accelerate future growth and capitalize on favorable construction trends in the Company’s key markets, Copperhead would benefit by finding the optimal partner to support its next chapter. The shareholders chose Copperweld Group to provide the economic and strategic resources necessary to further expand Copperhead’s product offerings and geographic footprint, thus facilitating continued growth and expansion of the business.

“After discussions with Copperweld continued to escalate, we knew we needed a financial advisor with M&A expertise in our corner. Chartwell was instrumental throughout each step of the process, providing in-depth analysis and unbiased guidance. Gathering due diligence information and preparing for conversations with Copperweld was enlightening and strategic in nature. Chartwell took the lead in evaluating the unsolicited offer and educating us on our options with strategic and private equity investors. They led the negotiation process with Copperweld in this fast-paced transaction that went from an initial conversation to closing in less than 90 days. I was especially impressed with Chartwell’s expertise and guidance and the superior outcome for our shareholders and employees. We are extremely excited about the future of Copperhead and Copperweld.”

— Jeff Atwood, President, Copperhead Industries

Chartwell Contact

For additional information on this transaction, please contact Joe Skorczewski. For more information about Chartwell’s corporate finance capabilities, please contact Wil Becker. 

Chartwell is pleased to announce the sale of Heneghan Wrecking & Excavating Co., Inc. to NorthStar Group Services, a portfolio company of J.F. Lehman & Company. Chartwell acted as exclusive M&A advisor to Heneghan (the “Company”‘) throughout the transaction, providing comprehensive, unbiased counsel to the shareholders on the sale of the Company.

Headquartered in Chicago, Illinois, Heneghan is a leading provider of complete structural and interior demolition, excavation, and emergency response services for commercial and industrial clients across the Midwest. Since 1973, Heneghan has established an extensive track record and unparalleled reputation as the preeminent demolition provider in the Midwest. Heneghan employs a highly experienced staff of estimators, project managers, operators, and laborers with numerous high-profile, highly technical projects successfully completed with an exemplary safety record.

“We chose Chartwell as our financial advisor due to their industry experience, reputation, and transaction expertise. Chartwell was instrumental throughout each step of the M&A process, providing in-depth analysis and unbiased guidance. They took the lead in soliciting and evaluating offers while educating us on our options with numerous strategic and private equity investors. We trusted Chartwell to guide us through a very meaningful transaction with our family-owned business and truly believe we achieved an optimal outcome for our family and our employees. We are extremely excited for our partnership with NorthStar and see many new opportunities to come.”

 – Patrick Heneghan, President, Heneghan Wrecking

About NorthStar Group Services

NorthStar is the leading provider of highly technical infrastructure and environmental services with unrivalled credentials executing highly complex projects across its core endmarkets. NorthStar’s complementary service lines include commercial and industrial deconstruction, nuclear deconstruction and decommissioning, environmental services, and response and restoration. NorthStar is headquartered in New York, New York with a broad branch network across the United States.

Chartwell Contact

For more information about this transaction, please contact Greg Fresh.

Chartwell is pleased to announce RESPEC, Inc. has acquired PDC Inc. Engineers. The transaction brings together two 100% ESOP-owned companies with over 110 years of industry experience and combined revenue of $80M. The collective company will continue to operate under the RESPEC banner.

RESPEC (the “Company”) engaged Chartwell as its exclusive financial advisor to lead and execute a complex transaction involving the combination of two 100% ESOP-owned companies and their respective plans. Throughout the process, Chartwell provided objective counsel and facilitated negotiations on behalf of the Company to ensure a successful outcome for both parties. Chartwell conducted in-depth analyses to advise RESPEC on investment merits, valuation, transaction structuring, and ESOP related matters.

“We are no strangers to the M&A process and I personally have interacted with many financial professionals throughout my career. We selected Chartwell to lead this important endeavor based on Chartwell’s ability to leverage its team of professionals to provide unbiased, comprehensive advice throughout the transaction process. Chartwell’s ability to navigate through a complex ESOP transaction during one of the more complex times in recent history was invaluable. It was comforting to know we had a reliable and responsive partner to help us cross the finish line.”

 – Todd Kenner, CEO, RESPEC

About RESPEC

Founded in 1969, RESPEC is a technical consulting and environmental services company specializing in the application of technology to solve complex business, scientific, and engineering problems. The Company is a global leader in geoscience, engineering, data, and integrated technology solutions for major industry sectors. Since 2011, RESPEC’s revenue has increased from $18 million to $56 million and its staff has grown from 140 to 340. The Company’s staff consists of engineers, geologists, scientists, inspectors, technicians, and specialty consultants with decades of engineering and construction experience. Headquartered in Rapid City, South Dakota, RESPEC has locations across the country and has completed projects around the world.

About PDC

Based in Fairbanks, Alaska, PDC has business interests dating back to 1953. PDC is a multi-disciplinary consulting and design company that provides services to the facilities, transportation, land development, and utilities markets. PDC serves a variety of industries with a portfolio of clients including federal, state, and local government entities as well as privately owned organizations. The firm specializes in designing for extreme environments, such as those found in the Arctic and Antarctic, and for military applications.

Chartwell Contact

For more information about this transaction, please contact Joe Skorczewski or Chris Staloch. To learn more about Chartwell’s corporate finance capabilities, please contact Wil Becker.

Chartwell is pleased to announce the sale of NOVA Geotechnical & Inspection Services to Obsidian Group Holdings, parent company of Universal Engineering Services and GFA International, Inc. Chartwell acted as exclusive financial advisor to NOVA (the “Company”) throughout the transaction providing comprehensive, unbiased counsel to the shareholders on the sale of the Company.

NOVA provides geotechnical engineering, environmental consulting, soils inspection and testing, construction materials testing, and special inspection services throughout Nevada and California. Founded in 2001, the Company has established itself as a market leader in a fragmented industry by providing consistent quality and deep expertise across a full spectrum of services, from project concept to post-construction. NOVA’s staff consists of engineers, geologists, scientists, inspectors, technicians, and specialty consultants with decades of engineering and construction experience. With substantial, proven knowledge and diversified technical expertise, the difference NOVA provides is continuous integrity. The Company is headquartered in Las Vegas, Nevada with additional offices in Reno, Nevada and Irvine, California.

The shareholders believed that in order to accelerate growth and capitalize on favorable construction trends in the Company’s key markets, NOVA needed to find the optimal partner to support its next chapter. NOVA’s shareholders chose Obsidian to provide both the economic and strategic resources necessary to further expand NOVA’s service offerings and geographic footprint, thus facilitating continued growth and expansion of the business.

“We chose Chartwell as our financial advisor due to their industry experience, reputation, and transaction expertise. Chartwell was instrumental throughout each step of the process, providing in-depth analysis and unbiased guidance. They took the lead in evaluating offers and educating us on our options with strategic and private equity investors. Chartwell led the negotiation process with Obsidian in this highly complex transaction. I was very impressed with Chartwell’s expertise and guidance and the superior outcome for our shareholders and employees. We are extremely excited about the future of NOVA and Obsidian.”

 – James Bristow, CEO, NOVA

About Obsidian Group Holdings

Obsidian is a network of engineering, inspection, and testing firms. Headquartered in West Palm Beach, Florida, Obsidian was formed in 2019 following the merger of Universal Engineering Sciences, LLC and GFA International, Inc. The combined company’s resources include 26 offices and over 1,300 professionals.

Chartwell Contact

For more information about this transaction, please contact Wil Becker. To learn more about Chartwell’s corporate finance capabilities, please contact Greg Fresh.